Optimism in economy, quality of life drops – SWS

MANILA, Philippines - The number of Filipinos expecting better lives and an improved economy in the coming year remains “very high” despite a slight drop in the third quarter survey conducted by the Social Weather Stations (SWS).

The Sept. 24 to 27 survey – the results of which were published in BusinessWorld yesterday – showed 46 percent of Filipinos were looking at an improvement in their quality of life against three percent expecting it to get worse, yielding a +43 net personal optimism rating.

Net personal optimism went down three points from the record-high +46 (49 percent optimistic, three percent pessimistic) obtained in a survey conducted in June, more than a month after President Duterte won the May 9 elections.

Meanwhile, 53 percent of Filipinos believe that the economy will improve in the next 12 months, against nine percent who said it would get worse, yielding a “very high” +56 net economic optimism.

The latest net economic optimism dropped from June’s record-high +56 (60 percent optimistic, four percent pessimistic).

Net personal optimism refers to expectations in personal quality of life, while net economic optimism refers to expectations about the general Philippine economy.

The survey had 1,200 respondents and a net error margin of +/- three percent.

By location, class

Comparing the June and September 2016 surveys, SWS said the net personal optimism remained high across all regions despite drops in Metro Manila (+56 to +52), balance Luzon (+41 to +39) and Mindanao (+54 to +45). It was flat in the Visayas at +42.

Meanwhile, net personal optimism increased 10 points in Class ABC (+37 to +47), but decreased in Class D (+49 to +43) and remained flat in Class E (+39).

Net economic optimism dropped across all regions: +65 to +41 in Metro Manila, +50 to +42 in balance Luzon, +50 to +40 in the Visayas and +66 to +54 in Mindanao.

It increased among Class ABC respondents (+49 to +51), but decreased among those who identified themselves as belonging to Class D (+57 to +43) and Class E (+54 to +44).